Answer:
A corporation is owned by its shareholders, and selling shares on the open market is one way for a public company to raise capital. To promote trading of its stock, a corporation may choose to list its shares on a stock exchange.
How are society and culture related?
1.While culture, as the collection of beliefs and values of a group of people, strongly affects society, a particular society does not have any kind of impact on its
culture.
2.Both society and culture are important to groups of people, but they are entirely
separate from one another.
3.A society is a group of people who live in the same area and share a culture, and
culture is made up of elements, such as language, that tie the society together.
4.A culture is a group of people who live together, and a society is the values,
beliefs, and behaviors that they all share.
As both entail a community of people residing in one place, society and culture are intimately intertwined. While culture refers to the ideas, values, and standards that influence a society's behaviour, society is the collective behaviour of a collection of people.
Language, religion, and customs are examples of cultural components that bind a community together and give it a feeling of identity.
A society's values and beliefs shape how its members interact with one another and the outside world, therefore a society's culture also has an impact on it. Although culture and society are two separate yet linked concepts.
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how do people who volunteering/organizing at a fundraiser use donated items
People who volunteer or organize fundraisers typically use donated items in various ways to support the event and achieve its objectives.
Here are some common ways in which donated items are utilized:
1-Auctions or raffles: Donated items can be auctioned off or used as prizes in raffles to generate funds for the cause. These items could include gift certificates, merchandise, experiences, or unique collectibles.
2-Gift bags or swag: Donated items can be assembled into gift bags or swag bags that are given to attendees or participants. These bags often contain promotional materials, small gifts, or samples from sponsors or donors.
3-Silent or live auctions: Donated items can be showcased and bid on in silent or live auctions during the event. These items may range from artwork and jewelry to vacation packages or exclusive experiences.
4-Event supplies: Donated items such as food and beverages, decorations, audiovisual equipment, or event space can significantly reduce the costs associated with organizing the fundraiser.
5-Prizes or incentives: Donated items can be used as incentives for participants to reach certain fundraising goals or milestones. This can motivate individuals to actively engage in fundraising efforts.
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AARP expects agents offering AARP-branded products to demonstrate five key behaviors when interacting with customers. AARP wants customers we work with to feel their relationship with AARP is
There are key behaviors that AARP expects from agents offering AARP-branded products because they want customers to feel their relationship with AARP is Effortless and inspiring.
What kind of relationship does AARP want to have with customers?The American Association of Retired Persons(AARP) as the name implies, work with the elderly in society who often require greater care.
As a result, the AARP places a huge premium on its agents working well with their customers (the elderly) such that the customers don't feel stressed and are instead impressed by effortless and inspiring actions.
Options include:
Effortless and inspiring Shrewd and disconcertingStressful and uncertainFind out more on the work of the American Association of Retired Persons at https://brainly.com/question/27569316.
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which of the following hitches are allowed home depot
Out of the hitches given, the hitches that are not allowed is Class 3 receiver. A hitch is a tool which is attached to the frame of a vehicle. Thus option (B) is correct.
What are hitches?A hitch is a device that is attached to the chassis or frame of a vehicle, and is used to tow or carry loads, such as trailers, boats, or other vehicles. Hitches come in a variety of types and sizes, and the appropriate hitch depends on the weight of the load being towed or carried, as well as the towing capacity of the vehicle.
It is important to choose the appropriate hitch for the vehicle and the load being towed, and to follow the manufacturer's recommendations for hitch installation and towing capacity. Using an improperly installed or mismatched hitch can be dangerous and cause damage to the vehicle or the load being towed.
The Class 3 receiver are are not allowed out of given hitches above. Therefore option (B) is correct.
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The complete question might be:
Which of the following hitches are not allowed
Class 2 receiver
Class 3 receiver
Class 1 receiver
Bumper hitch
Question 4 of 4
How impactful was high shipping demand on
customer questions?
Not
impactful
Extremely
impactful
Submit
Customers often have a lot of questions. Extremely impactful was high shipping demand on customer questions.
What is customer experience: This is simply known as the product of an interaction that exist between an organization and a customer.
Customer service is simply the assistance provided by a company to individuals who buy or use its products or services.
The questions of customers will help one to know if the high shipping demand is due to the needs of the customer.
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Imagine the products are in decline and recommend an extension strategy for each one. Make sure you explain your
A Galaxy chocolate bar
Candy Crush mobile app.
Evian water
Ferrari world.
All of these products should use a rebranding extension strategy.
Once a product reaches maturity and the market is saturated, it gradually starts to decline.
Because of this, one approach to lengthen the life of a product strategy is to always seek out ways to make it better, different, and even stand out from similar products that have already hit the market.
Rebranding, offering discounts, and looking for new markets are all examples of extension strategy methods. Rebranding is the process of giving an existing product a fresh look and feel in order to set it apart from the competition. For instance, a cosmetics company might provide additional brushes, blenders, or sponges.
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yes loloolololololoolloolololololololoolololololol
Answer:
yup the true maeningnof lol Is laugh aloud or lots of love depending on how it's used
What was the opening price of Dow Jones Industrial Average on May 12, 2018 in the format of XXXXX.XX?
Explanation:
2018 industrial average was roughly $26,000 , due to, a falling economy...
As a result of a depreciation of the dollar relative to the Euro, the equilibrium Euro price of US imports will
Answer:
fall
Explanation:
Depreciation is the decline in the value of a currency. When the dollar declines in value relative to the Euro, it means that the value of the dollar has declined relative to the Euro.
For example, let us assume that the exchange rate at the beginning and the end of the year are :
£1 - $10
£1 - $20
respectively
This shows that the dollar has depreciated and the euro has appreciated.
As a result, it would be cheaper for countries whose currency is the Euro to buy goods from a country whose currency is the dollar. So, the equilibrium Euro price of US imports will fall.
A sales associate authorized to negotiate a sale of property has the authority to
Has the authorization to perform underneath the supervision of a broker or, in certain circumstances, a founder.
A sales assistant who's been authorized to negotiate this same acquisition of real estate seems to have the authorization to operate under the supervision of a real estate agent or, under certain circumstances, ownership.He isn't permitted to modify legal requirements, or to affect the price or conditions of a specific asset without the supervisor's explicit approval.
Thus the above response is right.
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Sheffield Corp. had revenues of $344000, expenses of $184000, and dividends of $45000. When Income Summary is closed to Retained Earnings, the amount of the debit or credit to Retained Earnings is a
Answer: CREDIT of $160,000.
Explanation:
Income summary being closed to the Retained earnings account means that the income for the year is sent to the Retained earnings account.
Inventory is paid from the Retained earnings so will not feature in the amount sent from the Income statement.
Income = Revenues - expenses
= 344,000 - 184,000
= $160,000
As the Retained earnings will increase, this is a CREDIT of $160,000.
Which of the following is an example of nonverbal communication?
Answer:
Some examples of Nonverbal: Facial expressions. The human face is extremely expressive, able to convey countless emotions without saying a word, Body movement and posture, Gestures, Eye contact, Touch, Space, Voice, Pay attention to inconsistencies.
Explanation:
Nonverbal communication refers to gestures, facial expressions, tone of voice, eye contact (or lack thereof), body language, posture, and other ways people can communicate without using language.
Answer: INCOMPLETE QUESTION
Which of the following is an example of effective nonverbal communication?
A. Remaining close to the person's face when relaying a message.
B. Using a chart to point to text and images.
C. Avoiding facial expressions like frowning or nodding.
D. Paying attention to what's going on in the room.
The answer is B for A-P-E-X users.
For each of the following accounts indicate the effects of a debit and a credit on the account and the normal balance of the account
The following accounts indicate the effects of a debit and a credit on the account and the normal balance of the account.
What are accounts?Accounting is not pure mathematics. Simple multiplication, division, and addition are involved. There might be a little elementary algebra, but that's it. You are not required to comprehend calculus.
1. accounts payable - Debit effect: Decrease
Credit effect: Increase
Normal Balance: Credit
2. advertising expense - Debit effect: increase
Credit effect: decrease
Normal Balance: debit
3. service revenue - Debit effect: decrease
Credit effect: increase
Normal Balance: credit
Therefore, As a result, The normal bank account is referred as the following charts.
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What is a firm's weighted-average cost of capital if the stock has a beta of 1.45, Treasury bills yield 5%, and the market portfolio offers an expected return of 14%? In addition to equity, the firm finances 30% of its assets with debt that has a yield to maturity of 9%. The firm is in the 35% marginal tax bracket.
A firm's weighted-average cost of capital if the stock has a beta of 1.45, is 12.705%.
The average rate of return a company anticipates paying to all of its investors debt and equity to fund its assets is known as the weighted-average cost of capital (WACC).
According to Capital Asset Pricing Model,
Cost of Equity =
Risk-Free Rate of Return + Beta × (Market Rate of Return –Risk-Free Rate of Return)
Risk-Free Rate of Return=5%= 0.05
Beta=1.45
Market Rate of Return=14%=0.14
therefore, cost of equity
\(= 0.05 + 1.45 * (0.14 - 0.05) \\= 0.05 + 0.1315 = 0.1815 =18.15%\)%
After-tax cost of debt =(risk-free rate of return + credit spread)*(1 - tax rate)
After-tax cost of debt\(= 0.09 * (1 - 0.35) = 0.0585 = 5.85%\)%
WACC = (proportion of equity * cost of equity) + (proportion of debt * after-tax cost of debt)
\(WACC = (E/V * Re) + ((D/V * Rd) * (1 - T))\)
\(WACC = (0.7 * 0.1815) + (0.3 * 0.0585) = 0.12705 =12.705%\)%
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I. A clinic encourages its customers to have their bond checked with the claim that one out
of four 60-year-old men need to be supplemented with glucosamine. If this is true, what is
the probability of the following events:
a. Two out of the next eight 60 year-old men need to be supplemented with glucosamine
b. Three out of the next 12 60 year-old men need to be supplemented with glucosamine
A clinic encourages its customers to have their bond checked with the claim that one out of four 60-year-old men need to be supplemented with glucosamine. If this is true, then the probability of the following events is Two out of the next eight 60 year old men need to be supplemented with glucosamine.
Glucosamine is a naturally occurring compound in the body. It is required for the formation and repair of cartilage as well as other body tissues.
Because glucosamine production slows in age, some people take glucosamine supplements to help them fight aging-related health issues like osteoarthritis. The majority of supplements are made from the shells of marine life, such as prawns and crabs.
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Suppose a firm manager has a base salary of $175,000 and earns 0.5 percent of all profits. Determine the manager's income if revenues are $10,000,000 and profits are $5,000,000. A) $150,000 B) $200,000 C) $225,000 D) $300,000
The manager's income is $200,000.
The option (B) is correct.
The expression "income" for the most part alludes to how much cash, property, and different exchanges of significant worth got over a set timeframe in return for administrations or items. There is no single, standard definition: pay is characterized by the setting in which the idea is utilized.
Income includes monetary as well as non-financial upsides of recompenses and perquisites. All pay is available under personal expense except if explicitly excluded.
Given;
Fixed salary = $175,000
Earns 0.5% of all profits
Profit = $5,000,000
Manager income = Fixed salary + 0.005 * Profit
Manager's income = $175,000 + 0.005 * $5,000,000
=> Manager's income = $175,000 + $25000
=> Manager' income = $200,000
Thus, the manager's income is $200,000.
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PLEASE HELP!! This is economics/business work. Will give brainliest if correct!!
This table can be used to organize Gigi’s credit card balances and payments over 6 months. The annual percentage rate on the credit card is 14%.
Gigi’s Credit Card Payments
Month
Balance
Payment
Interest Rate
Interest Charged
1
$650
$300
0.01167
$4.08
2
$354.08
$50
0.01167
3
$307.63
$50
0.01167
4
$260.64
$50
0.01167
5
$213.10
$50
0.01167
6
$165
$50
0.01167
What is the amount of interest charged for the first 6 months? (16.34)
The correct answer is the first option, or 16.34
Just got it right on the edge 2020 exam review, hope this helps!! :)
California allows which of the following deductions for this year?
If predecessor auditors refuse communication, successor auditors __________ accept the engagement. Multiple Choice can must not cannot should not
Let MAC1 = 100 – 10E and MAC2 = 50 – 10E. Graph each function and compute the aggregate MAC curve. Let MD = 30E, compute the socially efficient equilibrium. For the equations given above, suppose the government sets the pollution level at four units. What are the net social costs of this policy?
Suppose a technological change occurs that reduces the marginal costs of abatement for polluter 1 in the above equation to that of polluter 2. How does this affect the socially efficient level of pollution? Solve numerically and graphically.
If the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not impact the socially efficient level of pollution. The level is still determined by equating Marginal Damage with the Aggregate MAC.
To graph each function, we can plot MAC1 and MAC2 on a graph with the quantity of emissions (E) on the x-axis and the marginal abatement cost (MAC) on the y-axis.
For MAC1: MAC1 = 100 - 10E
For MAC2: MAC2 = 50 - 10E
To compute the aggregate MAC curve, we add the individual MAC curves together. So, Aggregate MAC = MAC1 + MAC2.
Aggregate MAC = (100 - 10E) + (50 - 10E) = 150 - 20E
Now, let's calculate the socially efficient equilibrium by setting the Marginal Damage (MD) equal to the Aggregate MAC.
MD = Aggregate MAC
30E = 150 - 20E
Simplifying the equation, we get:
50E = 150
E = 3
Therefore, the socially efficient equilibrium occurs when the quantity of emissions (E) is 3.
Now, let's calculate the net social costs of the policy when the government sets the pollution level at four units.
Net social costs = Aggregate MAC - MD
Net social costs = (150 - 20(4)) - (30(4))
Net social costs = 110 - 120
Net social costs = -10
The net social costs of this policy would be -10, indicating a net benefit to society.
If a technological change occurs that reduces the marginal costs of abatement for polluter 1 to that of polluter 2, it means that MAC1 will become equal to MAC2.
Setting MAC1 equal to MAC2:
100 - 10E = 50 - 10E
Simplifying the equation, we find that E can have any value, as both sides are equal.
Graphically, this change would mean that MAC1 and MAC2 become parallel lines on the graph, with the same slope and intercept. The socially efficient level of pollution would still be determined by equating MD with the aggregate MAC.
In conclusion, if the marginal costs of abatement for polluter 1 become equal to polluter 2, it does not affect the socially efficient level of pollution. The socially efficient level is still determined by equating the Marginal Damage with the Aggregate MAC, regardless of the marginal costs of individual polluters.
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"Easton Company uses 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 130 $11 5/5 Purchase 280 $13 5/15 Purchase 140 $15 5/25 Purchase 160 $17 Sales were 430 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.”
Answer:
$4,520
Explanation:
The computation of the dollar value of the ending inventory using the FIFO method is as follows:
But before that the ending inventory is
= Beginning inventory + purchased units + purchased units + purchased units - sales units
= 130 units + 280 units + 140 units + 160 units - 430 units
= 280 units
Now the ending inventory is
= 160 units × $17 + (280 units - 160 units) × $15
= $2,720 + $1,800
= $4,520
Why does the economy produce where short-run aggregate supply (SRAS) and aggregate demand (AD) cross rather than where long-run aggregate supply (LRAS) and AD cross?
Short-run aggregate supply curves illustrate supply in the near future or over a period in which capital is fixed. Long-run aggregate supply curves show supply in the long-term in which all inputs are variable.
What is long-run aggregate supply?The long-run aggregate supply (LRAS) curve connects the level of output generated by enterprises to the long-run price level.
Price changes in production variables modify the short-run aggregate supply curve. Changes in the capital stock, natural resource stock, and degree of technology can also cause the short-run aggregate supply curve to alter.
Short-run aggregate supply curves depict supply in the near future or over a specified length of time. Therefore, Long-run aggregate supply curves depict long-term supply with varying inputs.
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A solid business blank addresses a customers blank
A solid business plan addresses a customers needs and offers a solution.
What is business?Generally, Business is an activity of providing goods and services in exchange for money. It includes all forms of trade conducted within a society, including bartering and exchange of services.
It is a major part of the economy and is an essential component of economic growth. Businesses can range from small, one-person operations to large, multi-national corporations.
The primary purpose of business is to create and provide goods and services to satisfy customers, generate profits, and create social value.
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What role does a company like UPS play in the supply chain?
Please help with below question
A bond has $10,000 face value and 10 years to maturity. The bond promises to pay a coupon of $1,000. The bond interest is paid annually. The interest rate for similar bonds is 12%.
Required: Determine the following:
A. What is the bond’s terminal value
B. Determine the coupon rate
C. What is the maturity period
D. What is the yield to maturity
E. Determine the value of the bond
A. Terminal value: $10,000.
B. Coupon rate: 10%.
C. Maturity period: 10 years.
D. Yield to maturity: Approximately 12%.
E. Bond value: The sum of the present value of coupon payments and the present value of the face value at maturity.
A. The bond's terminal value is equal to its face value, which is $10,000. This represents the amount that the bondholder will receive at maturity.
B. To determine the coupon rate, we divide the annual coupon payment by the face value of the bond and multiply by 100%. In this case, the annual coupon payment is $1,000 and the face value is $10,000.
Coupon Rate = ($1,000 / $10,000) * 100% = 10%
C. The maturity period of the bond is given as 10 years. This means that the bond will reach its full term and the bondholder will receive the face value of $10,000 at the end of the 10-year period.
D. The yield to maturity (YTM) is the total return anticipated on a bond if it is held until it matures. It is the internal rate of return (IRR) of the bond's cash flows. Calculating the YTM requires finding the discount rate that equates the present value of the bond's cash flows to its current market price. In this case, the bond's coupon payments are $1,000 per year for 10 years, and the terminal value is $10,000.
Using a financial calculator or spreadsheet software, we can find that the yield to maturity is approximately 12%.
E. To determine the value of the bond, we need to calculate the present value of the bond's future cash flows. The cash flows consist of the annual coupon payments of $1,000 and the terminal value of $10,000. We discount these cash flows back to the present using the yield to maturity as the discount rate.
Using a financial calculator or spreadsheet software, we can calculate the present value of the cash flows. The value of the bond is the sum of the present values of the coupon payments and the present value of the terminal value.
Assuming a 12% yield to maturity, we find that the value of the bond is approximately $10,000, which is equal to its face value. This indicates that the bond is trading at par value, as the market price matches its face value.
It's important to note that bond valuation can be more complex when considering factors such as market conditions, risk, and different compounding periods for coupon payments. The provided calculation assumes an annual coupon payment and a simple discounting method using the yield to maturity as the discount rate.
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Discuss the various system for internal administration for financial organisation.
The various system for the internal administration of financial organizations includes accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
Internal administration systems for financial organizations are systems that oversee the internal functioning of the financial organizations and their staff. They enable businesses to establish and follow specific procedures that ensure their operations are stable, transparent, and responsible.
Here are some of the various systems for internal administration for financial organizations:
1. Accounting systems: Accounting systems are essential to ensure the accuracy of financial transactions and the reliability of financial statements. The accounting system should provide information about the current financial status of the organization and account for all income and expenses.
2. Budgeting systems: Financial organizations use budgeting systems to allocate resources and plan expenditures. This system can be used to control the financial performance of a department, project, or organization.
3. Internal controls: Internal controls are the procedures, policies, and activities that help an organization to maintain the integrity of its operations and prevent fraud. The effectiveness of these controls depends on how well they are implemented.
4. Performance management systems: Performance management systems are used to ensure that the goals of an organization are achieved. This system can be used to monitor and evaluate employee performance, provide feedback, and manage employee development.
5. Risk management systems: Risk management systems help financial organizations to identify and manage risks. They can be used to assess the risk associated with various activities and develop strategies to mitigate those risks.
6. Compliance management systems: Compliance management systems help financial organizations ensure that they are following all relevant regulations and laws. They can be used to monitor compliance with internal policies and procedures as well as external regulations.
In conclusion, internal administration systems for financial organizations are essential for ensuring the stability and transparency of financial operations. These systems include accounting systems, budgeting systems, internal controls, performance management systems, risk management systems, and compliance management systems.
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At December 31, 2020, Obermeyer Imports reported the following information on
its balance sheet.
Accounts receivable $250,000
Less: Allowance for doubtful accounts 15,000
During 2021, the company had the following transactions related to receivables.
1. Sales on account $2,600,000
2. Sales returns and allowances 45,000
3. Collections of accounts receivable 2,250,000
4. Write-offs of accounts receivable deemed uncollectible 10,000
5. Recovery of bad debts previously written off as uncollectible 3,000
Instructions
Requirement 1: Assuming Obermeyer Imports uses debt aging method and
estimates that bad debts would be $22,000.
(a) Prepare the journal entries to record each of these five transactions. Assume that
no cash discounts were taken on the collections of accounts receivable.
(b) Enter the January 1, 2021, balances in Accounts Receivable and Allowance for
Doubtful Accounts. Post the entries to the two accounts (use T-accounts), and
determine the balances.
(c) Prepare the journal entry to record bad debt expense for 2021.
(d) Compute the accounts receivable turnover for the year 2021.
Requirement 2: Assuming Obermeyer Imports uses percentage of sales method. Past
experience indicates that estimated bad debt expense are usually 0.5% on sales.
(a) Prepare the journal entries to record each of these five transactions. Assume that
no cash discounts were taken on the collections of accounts receivable.
(b) Enter the January 1, 2021, balances in Accounts Receivable and Allowance for
Doubtful Accounts. Post the entries to the two accounts (use T-accounts) and
determine the balances.
(c) Prepare the journal entry to record bad debt expenses for 2021.
(d) Compute the accounts receivable turnover for the year 2021.
a) The journal entries to record the five transactions are as follows:
1. Debit Accounts Receivable $2,600,000
Credit Sales Revenue $2,600,000
2. Debit Sales Returns and Allowances $45,000
Credit Accounts Receivable $45,000
3. Debit Cash $2,250,000
Credit Accounts Receivable $2,250,000
4. Debit Allowance for Doubtful Accounts $10,000
Credit Accounts Receivable $10,000
5. Debit Accounts Receivable $3,000
Credit Allowance for Doubtful Accounts $3,000
Debit Cash $3,000
Credit Accounts Receivable $3,000
b) T-accounts:
Accounts Receivable
Account Title Debit Credit
Beginning balance $250,000
Sales Revenue $2,600,000
Sales Returns and Allowances $45,000
Cash $2,250,000
Allowance for Doubtful Accounts $10,000
Ending balance $545,000
Totals $2,850,000 $2,850,000
Allowance for Doubtful Accounts
Account Title Debit Credit
Beginning balance $15,000
Accounts Receivable $10,000
Accounts Receivable $3,000
Bad Debts Expense 14,000
Ending balance $22,000
c) The preparation of the journal entry to record the bad debt expense for 2021 is as follows:
Debit Bad Debts Expenses $14,000
Credit Allowance for Doubtful Accounts $14,000
d) The accounts receivable turnover for the year 2021:
Average accounts receivable = $397,500 ($250,000 + $545,000)/2
Net Sales = $2,550,000 ($2,600,000 - $45,000)
Accounts Receivable Turnover = Net Sales/Average Accounts Receivable
= 6.43x ($2,550,000/$397,500)
2. The preparation of the journal entry to record the bad debt expense for 2021, based on bad debt expense of 0.5% of sales, is as follows:
Debit Bad Debts Expenses $13,000
Credit Allowance for Doubtful Accounts $13,000
= $13,000 ($2,600,000 x 0.5%)
Data and Calculations:
December 31, 2020 Balances:
Accounts receivable = $250,000
Allowance for doubtful accounts = $15,000
2021 Transactions Analysis:
1. Accounts Receivable $2,600,000 Sales Revenue $2,600,000
2. Sales Returns and Allowances $45,000 Accounts Receivable $45,000
3. Cash $2,250,000 Accounts Receivable $2,250,000
4. Allowance for Doubtful Accounts $10,000 Accounts Receivable $10,000
5. Accounts Receivable $3,000 Allowance for Doubtful Accounts $3,000
Cash $3,000 Accounts Receivable $3,000
6. Bad Debts Expenses $14,000 Allowance for Doubtful Accounts $14,000
Bad Debts Expenses = 0.5%
= $13,000 ($2,600,000 x 0.5%)
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EXAMPLE 2 An entity purchased an item of plant for Tshs. 120,000,000 on 1 January 2001. The plant was depreciated on a straight line basis over its useful economic life, which was estimated at six years. On i January 2003 the entity decided to revalue its plant. No fair value was available for the item of plant that had been i 3 If in 2005 the plant in Example 2 above had a replacement cost of Tshs. 100,000,000. Account for the proper treatment in the book of account in relation to the Plant
The entity need to determine fair value for the plant. Assuming the fair value was determined to be Tshs. 130,000,000, the entity would record:
revaluation surplus of Tshs. 10,000,000 (130,000,000 - 120,000,000).carrying amount of the plant would then be adjusted to Tshs. 130,000,000.What is the proper treatment in the book of account?If in 2005, the plant had a replacement cost of Tshs. 100,000,000, this would not affect the treatment of the revaluation surplus or the carrying amount of the plant.
The replacement cost is not relevant to the accounting treatment of the plant's revaluation because it is not a measure of the plant's fair value. However, if the entity wished to reflect the lower replacement cost in the financial statements, it could consider whether an impairment loss was necessary.
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Reese opened his business in February. Due to circumstances beyond his control, it closed in August. What month of this short tax year will serve as the midpoint for purposes of calculating depreciation using the half-year convention?
Reese opened his business in February. Due to circumstances beyond his control, it closed in August. The month of this short tax year that will serve as the midpoint for purposes of calculating depreciation using the half-year convention is: July. (Option D)
What is tax year?For a short tax year, the month of July will be used for depreciation using the midpoint technique. This is because when an asset is acquired throughout the year and used after the second half, July 1 is used to calculate depreciation using the half-year approach. As a result, option d, July, is the right answer.
A fiscal year is used in government accounting, which differs by country, as well as budgeting. Businesses and other organizations also utilize it for financial reporting.
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Full Question:
Jackson opened his business in February. Due to circumstances beyond his control, it closed in August. What month of this short tax year will serve as the midpoint for purposes of calculating depreciation using the half-year convention?
A) April
B) May
C) June
D) July